John Singleton and Mark Carnegie lodged a formal bid to buy the 54.5% stake held by Fairfax Media Limited (ASX:FXJ) (‘Fairfax‘) in Macquarie Media Limited (ASX:MRN). Singleton and Carnegie formally handed a request to Fairfax chief Greg Hywood late on June 15, 2017 after the market closed seeking access to the publisher’s due diligence room to firm up ¬finance with the ANZ. Shares in Macquarie Media closed June 15 at AUD 1.14, up 25% from a recent low on April 28, 2017 of AUD 0.91 a share.